Abbott Laboratories (NYSE:ABT)‘s stock had its “buy” rating restated by stock analysts at Bank of America Corporation in a report issued on Wednesday. They presently have a $60.00 price target on the healthcare product maker’s stock, up from their prior price target of $56.00. Bank of America Corporation’s price target suggests a potential upside of 10.42% from the company’s previous close.

Several other analysts have also recently issued reports on the stock. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $55.00 price target on shares of Abbott Laboratories in a report on Tuesday. BMO Capital Markets reaffirmed a “hold” rating and issued a $53.00 price target on shares of Abbott Laboratories in a report on Monday. Barclays PLC upped their price target on shares of Abbott Laboratories from $57.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, September 28th. Wells Fargo & Company upped their price target on shares of Abbott Laboratories from $57.00 to $64.00 and gave the company an “outperform” rating in a report on Thursday, September 28th. Finally, Zacks Investment Research cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $54.40.

Shares of Abbott Laboratories (ABT) traded up 1.10% during midday trading on Wednesday, hitting $54.34. 5,629,587 shares of the stock were exchanged. The firm has a market cap of $94.41 billion, a P/E ratio of 76.11 and a beta of 1.06. Abbott Laboratories has a 12-month low of $37.38 and a 12-month high of $54.80. The firm has a 50 day moving average of $51.24 and a 200 day moving average of $47.59.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.02. The business had revenue of $6.64 billion during the quarter, compared to the consensus estimate of $6.63 billion. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. The business’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.55 earnings per share. Equities analysts forecast that Abbott Laboratories will post $2.49 EPS for the current fiscal year.

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In related news, insider Sharon J. Bracken sold 2,000 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $49.16, for a total value of $98,320.00. Following the completion of the transaction, the insider now owns 28,806 shares in the company, valued at approximately $1,416,102.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel Gesua Sive Salvadori sold 62,460 shares of the stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $52.95, for a total transaction of $3,307,257.00. Following the completion of the transaction, the insider now owns 113,426 shares of the company’s stock, valued at approximately $6,005,906.70. The disclosure for this sale can be found here. Insiders sold a total of 333,310 shares of company stock valued at $16,857,255 in the last quarter. 0.76% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Abbott Laboratories by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 129,786,955 shares of the healthcare product maker’s stock valued at $6,308,944,000 after buying an additional 3,241,063 shares in the last quarter. State Street Corp grew its position in Abbott Laboratories by 18.9% in the 1st quarter. State Street Corp now owns 80,499,469 shares of the healthcare product maker’s stock valued at $3,574,987,000 after buying an additional 12,806,535 shares in the last quarter. Capital Research Global Investors grew its position in Abbott Laboratories by 45.7% in the 2nd quarter. Capital Research Global Investors now owns 47,589,663 shares of the healthcare product maker’s stock valued at $2,313,334,000 after buying an additional 14,918,038 shares in the last quarter. Bank of New York Mellon Corp grew its position in Abbott Laboratories by 11.0% in the 1st quarter. Bank of New York Mellon Corp now owns 33,796,869 shares of the healthcare product maker’s stock valued at $1,500,920,000 after buying an additional 3,344,508 shares in the last quarter. Finally, Northern Trust Corp grew its position in Abbott Laboratories by 3.1% in the 2nd quarter. Northern Trust Corp now owns 26,865,706 shares of the healthcare product maker’s stock valued at $1,305,942,000 after buying an additional 809,732 shares in the last quarter. Hedge funds and other institutional investors own 71.50% of the company’s stock.

About Abbott Laboratories

Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.

Analyst Recommendations for Abbott Laboratories (NYSE:ABT)

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